In episode fifteen of PitchIt: the fintech startups podcast we talk with Yotta Co-Founder Adam Moelis.

Yotta was founded to help Americans become more financially secure. They help make saving fun while also offering better economic value than most savings accounts. Getting people to save is not an easy task, there are a lot of barriers to contend with and financial education from an early age is lacking.

Adam and I delve into the psychology behind savings and the lottery, Yotta is using some of this to acquire customers but going further to offer a safer and more sustainable path to savings. We also discuss how they avoid becoming a gimmick, crypto, raising capital and a whole lot more. We had a lot of fun and I hope you enjoy the show.

In this podcast you will learn:

• Adam's founder story
• Why people spend so much on the lottery
• Average American household spends $640 on the lottery
• 60 - 70 percent of what you put into the lottery is lost
• Savings is a significantly better and safer bet with your money
• Fun drives a lot of the behavior behind the lottery
• The importance of financial education at a young age
• Lower earning households spend a lot more of their income on the lottery as a percentage
• Yotta must be thoughtful to avoid being labeled a gimmick
• They view themselves as a digital or neobank
• Gamification can be a slippery slope
• Adam recommends reading Red Notice
• And more...